Well it's the beginning of the month and the end of the week, or as I call it the "perfect storm" of bill paying. It's when the big expenses are due, like rent and mortgage, and it's when the paycheck comes in, so I try to get as much paid as possible. You know, while still feeding my family (the state really likes that I do that, they kind of require it, actually). This task, like in so many households, is all under the purview of one individual, for us it's all mine. I must admit, I get a little controlling when it comes to money and juggling the bills. Most of us know that bill paying is a delicate dance, often one that involves finesse, cunning and above all timing!
When we were first living together my husband and I did as many couples do, we split the bills. We split everything pretty much down the middle. Some things that were individual specific, like our personal school loans, were paid by the individual. Otherwise, we were basically 50/50. Now that we own property together, have kids to raise and are sometimes a single income family we are a joint account kind of couple. Regardless, paying the bills is still stressful and difficult. It takes patience and planning, only one of which I have in spades...and it's not patience.
I devised a system way back then that I still use to this day. Of course some of you probably have on-line banking features that can automatically regulate these things for you, or maybe even a financial planner, or perhaps income isn't a deterring factor and your bills are all drawn automatically and electronically. No matter what your situation is I have a way to simplify you monthly bill paying experience in a way that will also give your bill paying complete transparency.
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| The original from 2004 |
My husband may not want to have the responsibility of managing the bills (ok, maybe it's me who doesn't want him to have responsibility...again, I'm controlling, I own it.) but he, none-the-less, is a contributing member of the family, at times the only one, financially. It is only fair that BOTH of us have the ability to track where we are for the month, what the next move would be, and look out for what may be pitfalls throughout the month. In addition, though I am controlling, I still want to feel like he cares enough to want to be involved and I want to feel like I'm in the financial quagmire with someone else, preferably my best friend.
All it takes is a "bill book".
It seems rudimentary, maybe it is. Maybe the entirety of these blogs are, maybe that's the point. I guess I've been at this simplicity stuff for a lot longer than I thought. So nearly 10 years ago now, I made our first bill book. It was just a simple lined notebook, one that only had half the pages because I had use the other half in a college course and was now recycling the remainder. The paper bills would be recorded and placed in the back to await payment. Now that I also have automatic payments I make sure to record those at the beginning of each month when the new monthly page is created. I have graduated slightly and now have modified ledger book that I can break up easier for how we pay now. I also try to make sure the notebook has a pocket to keep the paper bills, stamps, and miscellaneous bill paying items consolidated.
It breaks down like this: Each page is a separate month. Each line is a separate payment. The list runs down the page in order of the calendar and lists all of your payments for the month. I leave a break of a couple lines and then input any miscellaneous payments like bi-annual property taxes, preschool payments, home repairs or parking tickets, in a sub section. Each payment line details the payee, the amount, and the due date. When the bill is paid, the payment method and information is recorded as well as the date the payment clears from the account. When we were splitting bills I also delineated who had paid what. In that way, we were able to regiment certain payments to certain individuals and avoid the, "hey, can I have your half of the phone bill" situations.
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| Payees, amount, due date, how paid, when payment cleared. |
In fact, I remember one time when my husband was convinced I was baying more of the bills than he was, this bothered him. We both wanted equal footing and for it to be fair. In a way he was right, I paid 90% of the bills, but collectively they equaled the rent and car payments he was making. It all came out in the wash, as they say. I was able to sit down with him and show him how everything broke down. Since then he has always checked the book about once a week to see where we stand. It helps both of us feel connected to our home finances.
Any househould can implement a practice like this. I found it actually relieve a lot of the stress of the bill paying process!
Simple City Sam
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